free trade agreement
The Government of India no longer wants to limit the benefits of Free Trade Agreement (FTA) to papers only. The government is preparing such a plan so that Indian companies can take maximum advantage of these agreements and along with exports, domestic manufacturing also increases rapidly.
Agreements have been signed with many big countries
Since 2021, India has signed FTAs with countries like Mauritius, Australia, UAE, Oman, New Zealand, EFTA countries, European Union (EU), Britain and America. The total import of these 38 countries is about 12 trillion dollars, which has opened up a huge market for Indian businessmen.
These sectors are getting the most benefits
Agriculture, textile, gems and jewellery, leather, engineering, electronics, chemical and pharma sectors are especially benefiting from these agreements. Many products from these sectors are getting duty-free entry in partner countries.
Continuous meetings continue with businessmen
Commerce and Industry Minister Piyush Goyal is continuously holding meetings with industry organizations, businessmen and export promotion councils. His focus is that companies should make proper use of FTA and along with increasing exports, they should also strengthen production in India.
Special emphasis on agriculture and fisheries products
On May 4, the government reviewed the progress of the FTA. After this, another meeting was held on May 7, in which a roadmap was prepared to get Indian agricultural and fish products approved in the markets around the world. The government wants Indian agricultural and food products to reach as many countries as possible.
Indian missions abroad also got responsibility
The Commerce Ministry has also included Indian missions abroad in this campaign. Their work will be to increase awareness about FTA in other countries, explore new business opportunities and quickly remove non-tariff barriers to trade. Apart from this, different ministries have been given the responsibility to ensure that production is adequate and Indian products meet global standards.
Big target of 2 trillion dollar export
The government wants to increase India's goods and services exports to $2 trillion in the coming years. In this, a target has been set to export 1 trillion dollars of goods and 1 trillion dollars of services. Despite global economic challenges, India's total goods and services exports increased by 4.6% to a record $863.11 billion in 2025-26.
Not just tax relief, big business opportunity
CRF President and former WTO Director Shishir Priyadarshi says that Indian companies should not see FTA as just a tax reducing agreement. According to him, these agreements provide a big opportunity for India to gain a stronger place in the global supply chain, increase access to new markets and strengthen competition in the world through high-value products.
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